Ulta Beauty plans 12 stores in DDR malls
Bolinbrook, Ill. – Ulta Beauty will open 12 new stores in DDR shopping centers by year-end 2013.
The stores will open in DDR shopping centers in the towns of Salisbury, Md., Charlotte, N.C., Richmond, Va., Cleveland/Akron, Ohio, Toledo, Ohio, Hartford, Conn., Salt Lake City, Denver, St. Louis, and Lansing, Mich. Year-to-date, Ulta and DDR have opened six new stores, and are scheduled to open an additional six stores prior to year-end, bringing Ulta's total store count to 43 locations across DDR's portfolio.
“Ulta continues to be very focused on securing prime locations in market dominant power centers, and we are excited to expand our relationship with this best-in-class retailer,” said Paul Freddo, senior executive VP of leasing and development for DDR. “Ulta brings a complementary and unique merchandise offering to our shopping centers while simultaneously increasing credit quality of cash flow.”
Last week, Ulta CEO Mary Dillon said she planned to oversee new store growth following a 28% net income increase during the second quarter of this fiscal year.